Tips on CFO consulting with Dentists

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Tips on CFO consulting with Dentists

Reviewed

January, 2024

Daniel Richards

Learning Objectives

To discuss financial concepts and principles of a dental practice.
To analyze three key financial elements that help break down the dental practice’s financials.
To explain to dentists how they can make quicker, more informed decisions.
To discuss the importance of CFO in dentists who own their practice.

Course Description

As a dental professional, you know it takes more than just money to run a successful practice. Reinvesting in your practice and helping it grow requires time, commitment, and money. As a dental practitioner, you want to spend your time seeing patients, not developing the best marketing strategy and optimizing the back end of the business. Fortunately, you can ensure things go smoothly in your practice without interrupting patient care or spending an exorbitant sum hiring a full-time dental CFO.

As a company that specializes in CFO consulting exclusively for dentists, we’ve worked with hundreds of dental practice owners all over the US. If you’ve worked closely with dentists who own their practice, you know that it can be a challenge to provide consulting advice that leads to action. Dentists are hard-working, intelligent, and driven business owners. But they are also confrontation-averse, hyper-analytical, and avoid risk like the rest of us avoid going to the dentist!

In this CPE webinar, we’ll review three key financial elements that help break down the practice’s financials—the way the dentist wants to see them—so they can make quicker, more informed decisions.

With the help of this CPE Finance course, you’ll be able to provide a level of insight into their practice that nobody else has ever shown them—and the best part is you can use them universally across all your business clients.

If you’re interested in adding fixed-fee advisory income to your firm, this CPE webinar is for you.

Key Topics Covered:

Diagnose & Treat
Profitability Formula
Three Dials
Cashflow through a dental practice
Burn Rate(Net Cash) Flow Chart
Average Daily Burn Rate

Overview

Diagnose & Treat

5 mins
Cold water immersion therapy

12 mins
Three dials

18 mins
Burn rate flow chart

34 mins
Hire an associate?

38 mins

Webinar Qualifies For

1 CPE Credit of Finance for Certified Public Accountants (CPA-US)
1 General Credit of Finance for Accountant/Bookkeeper/Tax Professionals
1 CPE Credit of Corporate Finance for Certified Management Accountants (CMA)
1 CPE Credit of Finance for Certified Valuation Analyst (CVA)
1 CPD Credit of Finance for Accredited in Business Valuation (ABV)
1 CPE Credit of Finance for Chartered Global Management Accountants (CGMA)
1 PL Credit of Finance for Chartered Financial Analyst (CFA)
1 CE Credit of Finance for Chartered Financial Consultant (ChFC)
1 CE Credit of Finance for Retirement Income Certified Professional (RICP)
1 CE Credit of Finance for Financial Services Certified Professional (FSCP)
1 CE Credit of Finance for Wealth Management Certified Professional (WMCP)
1 CPE Credit of Finance for Certified Business Appraiser (CBA)/Master Certified Business Appraiser (MCBA)
1 CE Credit of General finance principles and financial concepts for Certified FP&A Professional (FP&A)
1 CE Credit of Finance for Chartered Advisor in Senior Living (CASL)
1 CPE Credit of Finance for Iowa Licensed Public Accountant (IA-LPA)
1 PL Credit of Finance for CIPM
1 CPE Credit of Finance for Maine Licensed Public Accountant (ME-LPA)
1 CE Credit of Finance for Chartered Special Needs Consultant (ChSNC)
1 CPE Credit of Finance for Delaware Licensed Public Accountant (DE-LPA)

About Instructor

Daniel Richards

Founder, CFO Dental Partners

Daniel Richards founded CFO Dental Partners in 2015. Headquartered in Eagle, ID; CFO Dental Partners provides outsourced CFO and accounting services exclusively for US-based privately owned dental practices. He and a team of 12 support over 50 practices across the country and consult for study groups and associations nationwide. He has been published in Dental Economics, a dental magazine that reaches over 100,000 dentists. He currently resides in Meridian, Idaho with his wife and 5 children. He also loves to golf, run, and is a big-time foodie.

Additional Information

Duration

1 Hour

Course Level

Basic

Instructional Method

QAS Self Study

Pre-requisites

None

Advance Preparation

None

FAQ’s

Click Here to View

NASBA APPROVED

MY-CPE LLC, 1600 Highway 6 south, suite 250, sugar land, TX, 77478

MY-CPE LLC (Sponsor Id#: 143597) is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.NASBARegistry.org.

Ratings and Review

4.6

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Jackie Kong, CPA (US)

My son is an aspiring dentist and awaiting acceptances from dental schools. When i told him about this course, he got interested. He confirmed some of the instructor's stats on dental offices!

Melissa Oduor, CPA (US)

Helpful high level insights to dental practices financial needs!

1 Credit

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Subject Area

Finance

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Tips on CFO consulting with Dentists

Course Details

Learning Objectives

Course Description

Overview

Qualifies for

Webinar Qualifies For

Presenter Details

About Instructor

Daniel Richards

Other Details

Additional Information

1 Hour

Basic

QAS Self Study

None

None

FAQ’s

NASBA APPROVED

Ratings and Review

4.6

Jackie Kong, CPA (US)

Melissa Oduor, CPA (US)

Subject Area

Unlimited Access Plan

Inclusions

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